Thursday, 12 November 2015

Markets Closed Of Diwali Balipratipada

Indian equity, forex, money and commodity markets will remain closed today on account of Diwali Balipratipada. On Wednesday, special Muhurat' trading session was held for an hour to mark the beginning of Samvat 2072, the Hindu New Year. Benchmark share indices ended their five-day losing streak after the government on Tuesday eased regulations on foreign direct investment in key sectors. The 30-share Sensex ended up 124 points at 25,867 and the 50-share Nifty closed 42 points higher at 7,825.

ALSO READ: Top stock picks from 10 brokerages for Samvat 2072 GLOBAL MARKETS Asian shares shrugged off early losses as crude oil prices pulled away from their overnight lows, while the Australian dollar grabbed the spotlight and surged after a much stronger-than-expected employment report. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6%, erasing its early modest losses. Employment jumped 58,600 last month, driving the jobless rate down to a five-month low of 5.9% and beating the market consensus for a 15,000 rise and a steady unemployment rate of 6.2%. The Australian dollar jumped three-quarters of a US cent to $0.7155, and was last up 1.1% at $0.7139. Japan's Nikkei stock index was slightly higher, erasing earlier losses. KEY ANNOUNCEMENTS The government on Tuesday eased the regulations for foreign direct investment (FDI) in key sectors such as single-brand retail, banking, construction, media and airlines, ahead of Prime Minister Narendra Modi's scheduled UK visit. Fifteen areas and 32 investment points will benefit from the liberalisation.

ALSO READ: Govt presses pedal on big-ticket FDI reforms COMMODITIES After a robust Dhanteras, gold sales were lacklustre on Diwali, with consumers staying away from purchases amid expectation of a further decline in prices.

ALSO READ: Diwali sees lacklustre gold sales US crude oil prices held near more than two-month lows in early Thursday trading, after a sharp slide on concerns the market will take much longer than many anticipated to rebalance as supplies far outstrip demand. Benchmark US crude futures were at $43.15 a barrel at 0033 GMT, up 22 cents on Wednesday when prices tumbled 3% on the back of high production, rising US stocks and an economic slowdown in Asia.

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